Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[macsga]

No one who wants to use Bitcoin is sitting on the sidelines saying "Oh, I'd like to buy this with bitcoin, but darn...  Their blocks are just too darned small!".

uhrm...

ever heard of the fidelity problem?

Nobody will care in a couple of days, when the price will surge banana-like. Trust me. Whales are coming in, CCMF. Period.

[Lauda]

Bullstamp $359.

[Alley]

At what price will the finex 5k short get margin called?  Was sold at $320.

[Patel]

Nobody will care in a couple of days, when the price will surge banana-like. Trust me. Whales are coming in, CCMF. Period.

[Hyperjacked]

What is happening with bitcoin right now? What are the reasons for this price rise?

what can I say...explosive suppression! Blythe master the legendary silver short has probably had her hands in the mix! Just my observations...among other things of course!

wake up shorts!!! You clearly know that pros are patient...

[marcus_of_augustus]

k 368 beckons ... if we plough through that with conviction the roof comes off and the breakout could go full bulltard mode, search lights, dogs howling, sirens, gunshots from the watchtowers, etc

[Fatman3001]

I don't really think that the people resisting block-size increase are just interested in creating a transaction-fee market.

I don't work for Blockstream, nor am I a Core developer - but even I can see that there is potentially a heavy price to be paid (in terms of Bitcoin decentralization) if we rush head-long down the path of block-size for scaling - and this could turn out to be a mistake that can't be undone, AND one that does not really solve the problem in the long-term.

I don't see the urgency you do for raising blocksize right now.  Full blocks are still uncommon (except during "stress-tests").

We want users now, we plan to let them join in 3 months stalling block size growth because we dont want centralized nodes 20 years from now is damaging bitcoin - its myopic.  If we hit a growth spurt like in 2013 well see a minimum of 10X transaction growth and the fee pressure will increase disproportionately, limited transaction volume will push feed over $1.00 in value for the smallest transactions. Fees will kill the competitive advantage bitcoin is offering.

small blockests think the fee should be around $7. We the users are paying for low fees by subsidizing miners with inflation of 25BTC every 10 minus. we need economics of scale - more users to reduce fess as inflation subsidies diminish.  Centralization is a concern, but we have 90% of nodes running centralized code the number is actually irrelevant when the code changes are controlled by a centralized few who believe bitcoin can't scale and want to change it to accommodate off block chain transactions. 

Again - full blocks are, as of this writing, still fairly rare.

No one who wants to use Bitcoin is sitting on the sidelines saying "Oh, I'd like to buy this with bitcoin, but darn...  Their blocks are just too darned small!".  Raising the blocksize now is NOT going to cause a stampede of new users.  Bigger blocks MAY be necessary soon, to accomodate new use - if it comes.  Or maybe another solution will be found before that is necessary.

I agree that we need to scale capacity AS NECESSARY - even if that means raising the blocksize somewhat in the short term, due to no other solution being at-hand.  I just don't want to see panic drive the community to prematurely choose a path that does not really solve the bigger problem, and potentially hurts Bitcoin decentralization forever.

3 of the last 4 blocks were full. And we're only at the beginning of this rally.

Anyhew, Mike Hearn spoke a bit about it if you care to listen. It's much the same as AdrianX said, but maybe audio will help.

https://youtu.be/8JmvkyQyD8w?t=403

@hdbuck Please behave, we have guests tonight.

[macsga]

k 368 beckons ... if we plough through that with conviction the roof comes off and the breakout could go full bulltard mode, search lights, dogs howling, sirens, gunshots from the watchtowers, etc

My place to be...

[brg444]

And just like that Finex hits 372 

[SnokkomBTC]

just wow

[ErisDiscordia]

so fork off man, just do it since you are so smart.. then you'll see what consensus and economic majority really means.

can we please make this a regular figure of btc-speech?

[LFC_Bitcoin]

I wonder how many bears/shorters were totally not prepared for this & are now in serious trouble  

[JimboToronto]

Another leg up.

Wait until China wakes up.

[Patel]

Poor Tarmi and kwukduck

[petahashminer]

huobi is at 2390 yuans , maybe gonna break 2500 yuans in a few hours, orderbook seems very thin right now..

lol bitcoin gone crazy..

[Alley]

Margin call?

[lemmyK]

Just watch now on Bitstamp....

[ssmc2]

It's becoming a distinct possibility we could see 5-700 in the next few weeks.  

[Lauda]

Sell side very weak now. Less than 2.5k coins to $420+. Are we going to hit a new high on Bitstamp?

[LFC_Bitcoin]

Poor Tarmi and kwukduck

They've been mocking us for well over a year now!